Illinois Municipal Retirement Fund, Oak Brook, is searching for closed-end unlisted infrastructure equity managers to manage at least $25 million, said Nisa Neely, pension fund spokeswoman, in an email.
The $41.3 billion pension fund has issued an RFP "to deploy capital constant with IMRF's asset allocation," Ms. Neely said.
The hiring will fall within the pension fund's alternative investments portfolio. As of June 30, the actual allocation to alternative investments was 3.9%; the target is 7%.
The RFP is available on IMRF's website. Proposals are due Oct. 1. A decision is expected by Dec. 14.
Investment consultant Callan is assisting.